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The response to Maduro’s measures, meant to reassure the public, was one of alarm

By

Kejal Vyas and

Maolis Castro

August 18, 2018

CARACAS, Venezuela—Businesses closed, banks struggled with transactions and people scrambled to find fuel Saturday, signs of panicked and skeptical reactions to government measures aimed at stabilizing a faltering economy.

President Nicolás Maduro said he would raise wages by nearly 6,000% and would devalue the already-embattled currency by 96%, in a televised announcement late Friday.